Universal Protocol vs Polkadot

Universal Protocol aims to use the Ethereum blockchain to store value and business logic for any cryptoasset, where the underlying token is held by a custodian. UPP primarily focuses on transfer of value, which is its simplest application and requires very little customization: Essentially, tokens of UPP (Proxy tokens) are issued as a representation for stored assets in the custody.

All transactions are triggered via the UP network and get translated in real time into the underlying blockchain in a transparent auditable way.

This is similar to the IOU model of Tether, an additional functionality provided by the features of Ethereum blockchain is the possible addition of more complex business logic.

The UPP solution is a hybrid, not entirely decentralized but again, thanks to the Ethereum blockchain the integration of Proxy token (ERC20) with DEXes straightforward.

Polkadot on the other hand is a bundle of independent blockchains (paralel chains or parachains) that provides very little functionality aside from the interoperability of blockchains, custom solutions are therefore necessary.

While Polkadot is a step towards stronger decentralization, there is still a need for governance system. As per the whitepaper, a token holder governance solution is proposed consisting of common users and a smaller high-tech commitee of major players.

The protocol functionality in Polkadot is taken care of by designated agents - collators, fishermen, nominators and validators - who are rewarded for their maintenance work.

While the Polkadot solution is technically more innovative, for simple value transfers it seems to be an overkill.

As far as mainstream and business adoption of blockchain is concerned, the Universal Protocol is more attractive due to its user friendly nature. Last but not least, Uphold, a member of the UP Alliance, offers $25MM of first-loss assurance to users in the event of hacking or theft.

Universal Protocol Platform: Token Promotion & Results

The Proxy token development is currently at the stage of a concept.

The Business Intelligence for Universal Protocol Platform

Universal Protocol platform is a project of UP Alliance which is a co-operative alliance of blockchain tech and fintech companies.

Uphold – Founded in 2014, Uphold has over 850,000 users around the world and has traded over $3.5 billion on its digital money platform and reserve ledger.

Cred (formerly known as Libra Credit) – Founded in 2018 by a group of former PayPal executives, Cred has introduced a revolutionary lending protocol and platform for digital assets.

Brave – From the creator of JavaScript and co-founder of Mozilla and Firefox, Brave radically improves internet browsing and leadership in the realms of privacy and digital advertising with the Basic Attention Token.

Blockchain at Berkeley – An academic organization at University of California, Berkeley, that provides educational resources, consultancy, and R&D to some of the biggest blockchain projects in the world.

The core leadership team of UP Platform consists industry experts and key Uphold personalities:

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By JMTBIO: JMT under the Twitter handle @tradingfanbois has been deep in bitcoin markets since late 2014. It is the person who takes care of the office of AltcoinTrading.NET. Also answering your Quora questions regarding Bitcoin, cryptocurrencies and technical analysis. ·